Domino’s Pizza Singapore is set to become part of the largest Domino’s network outside of the United States of America (USA) via a proposed acquisition by Domino’s Pizza Enterprises Ltd (DPE), an Australian-based group which operates more than 3,400 Domino’s stores in ten markets around the world.
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DPE entered into a binding agreement with Impress Foods Pte Ltd which owns 100% Domino’s Pizza Singapore and 65% of Domino’s Pizza Cambodia; Mikenwill (M) Sdn Bhd, which owns 100% of Dommal Food Services Sdn Bhd, the master franchise holder in Malaysia; as well as with minority shareholders in Cambodia for the remaining 35% stake in the market.
This will see DPE acquiring 100% of the Domino’s Pizza businesses in Malaysia, Singapore and Cambodia, comprising 287 corporate stores across these markets. The binding agreement entails acquisition of the corporate stores and franchise rights held by Mikenwill (M) Sdn Bhd and Impress Foods Pte Ltd. The acquisition is expected to be completed by the end of 2022.
Within Southeast Asia, Impress Foods Pte Ltd manages the Singapore and Cambodia markets with 38 and 9 stores respectively, while Dommal Food Services Sdn Bhd manages 240 stores in Malaysia.
Group Chief Executive Officer of Domino’s Pizza Malaysia, Singapore and Cambodia, Ba U Shan-Ting said, “We are excited for the next phase of evolution for Domino’s Pizza in Singapore and the region. In tandem with this, we aim to expand the number of stores to more than 600 over the long term, setting us on the path to becoming the largest pizza chain in the three countries.”
Michael Chick, Chief Executive Officer for Singapore & Cambodia, will continue to lead his team in serving the Singapore market.
“Our team will become part of the largest Domino’s network outside of the USA, giving us access to new technology and operational innovations that will propel our services to new heights as we deliver customers a more rewarding ordering experience, for hot, freshly prepared meals delivered to their door. Leveraging on our in-depth understanding of our local market segment and driven by our commitment to our customers, we aim to elevate an enhanced end-to-end experience with new global capabilities including marketing and menu innovation, to efficiently serve the most delicious meals to our customers.”
“Given our shared passion for the brand, we look forward to working closely together with DPE to become the #1 food delivery in Singapore. I personally have known the DPE Group CEO & Managing Director Don Meij since 2005. We look forward to working closely with the leadership team of DPE, Asia/Pacific CEO Josh Kilimnik, and current Belgium CEO Ringo Joannes,” Shan-Ting continued.
DPE Group CEO & Managing Director Don Meij said, “We have seen fantastic growth in the Singapore market and we admire the commitment, agility and drive of the local team, spearheaded by its leadership team. Their love for the brand and equally important, their pledge to their customers, are key contributing factors to their success in growing the business and serving customers, especially during the challenging times of the pandemic.”
“Opening more stores here will help us reach more communities and reduce our delivery times by bringing our stores closer to our customers. We look forward to welcoming more than 250 team members into the family while we present new employment opportunities with the upcoming expansion plans. The future of our business is in delivery. We are optimistic on the prospects and potential of the Singapore market and we intend to work closely with the Singapore team to develop new ways of safely reducing delivery times, so that we may continue to serve customers their favorite pizzas of restaurant quality, made with delicious ingredients and at an affordable price,” Don Meij concluded.
DPE’s latest strategic acquisition of Malaysia, Singapore and Cambodia is in line with its ongoing expansion plans particularly in Asia. DPE’s impressive track record is reflected in its extensive international footprint which began in the Australian market, with Taiwan being the most recent addition to its portfolio, bringing its total presence to 13 countries around the world. DPE aims to achieve a store count of 3,000 stores in Asia by 2033.
Source: Dominos
